Frontier Group (NASDAQ:ULCC) Hits New 52-Week High – Should You Buy?

Frontier Group Holdings, Inc. (NASDAQ:ULCC)’s stock price reached a new 52-week high during trading on Tuesday . The company traded as high as $8.41 and last traded at $7.99, with a volume of 4864212 shares changing hands. The stock had previously closed at $7.11.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Bank of America cut their price target on shares of Frontier Group from $5.50 to $5.00 and set a “neutral” rating on the stock in a report on Friday, September 13th. Barclays raised their target price on Frontier Group from $7.00 to $10.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. Raymond James raised Frontier Group from an “underperform” rating to a “market perform” rating in a research report on Monday, September 30th. Evercore ISI lifted their price objective on Frontier Group from $4.00 to $5.00 and gave the stock an “in-line” rating in a research report on Thursday, October 3rd. Finally, Morgan Stanley decreased their target price on Frontier Group from $8.00 to $7.00 and set an “equal weight” rating for the company in a report on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Frontier Group presently has a consensus rating of “Hold” and a consensus price target of $6.46.

Frontier Group Trading Up 12.4 %

The company has a market cap of $1.80 billion, a PE ratio of -199.70 and a beta of 2.32. The stock has a 50 day moving average price of $6.36 and a 200 day moving average price of $5.14. The company has a current ratio of 0.53, a quick ratio of 0.48 and a debt-to-equity ratio of 0.57.

Frontier Group (NASDAQ:ULCC) last announced its quarterly earnings data on Tuesday, October 29th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.03). The business had revenue of $935.00 million during the quarter, compared to analyst estimates of $943.30 million. The company’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same period in the prior year, the company earned ($0.14) earnings per share. Sell-side analysts predict that Frontier Group Holdings, Inc. will post 0.05 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Josh T. Connor sold 30,000 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $5.74, for a total value of $172,200.00. Following the sale, the director now directly owns 326,550 shares of the company’s stock, valued at approximately $1,874,397. This represents a 8.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Barry Biffle sold 160,000 shares of the firm’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $6.88, for a total value of $1,100,800.00. Following the transaction, the chief executive officer now owns 784,817 shares of the company’s stock, valued at $5,399,540.96. The trade was a 16.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 195,000 shares of company stock valued at $1,308,350 over the last quarter. Corporate insiders own 81.50% of the company’s stock.

Institutional Trading of Frontier Group

Several institutional investors have recently bought and sold shares of ULCC. Victory Capital Management Inc. purchased a new position in Frontier Group in the third quarter worth about $54,000. Ballentine Partners LLC bought a new stake in shares of Frontier Group during the third quarter valued at approximately $55,000. Vanguard Personalized Indexing Management LLC purchased a new position in Frontier Group in the 2nd quarter worth approximately $58,000. Blue Trust Inc. lifted its position in Frontier Group by 41.2% in the 3rd quarter. Blue Trust Inc. now owns 12,828 shares of the company’s stock valued at $63,000 after acquiring an additional 3,744 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Frontier Group by 251.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,896 shares of the company’s stock valued at $64,000 after purchasing an additional 8,507 shares during the last quarter.

About Frontier Group

Frontier Group Holdings, Inc, provides low-fare passenger airline services to leisure travelers in the United States and Latin America. The company sells its products through direct distribution channels, including its website, mobile app, and contact centers. As of December 31, 2023, it had a fleet of 136 Airbus single-aisle aircrafts.